Global Economic & Market Outlook – Focus Notes (Thursday, October 18, 2018)
Sustainability of Italy’s public finances under question post budget announcement
Executive Summary
The Italian government’s Draft Budgetary Plan 2019, based on its earlier multi-year Economic and Financial Document, was submitted to the European Commission on 15 October as mandated by the European Semester, keeping the budget deficit target for 2019 at 2.4% of GDP. Although the planned fiscal relaxation is expected to...